Manappuram Gold Loan to reduce loan portfolio to 50% in 10 years?

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Manappuram Gold Loan to reduce loan portfolio to 50% in 10 years?

Basically, Manappuram Gold Loan will remain the NBFC gold loan, but Manappuram Gold Loan wants to grow an affordable housing business to 20% in 10 years, said VP Nandakumar, MD and Manappuram Finance Chief Executive Officer.

Manappuram Gold Loan wants to diversify its loan portfolio to better manage risk. The Kerala-based NBFC plans to reduce its availability on gold loans from 95 percent to 65 percent in three to four years, and 50 percent in seven to ten years. ‘We want to grow our affordable housing business to 20 percent in ten years,’ VP Nandakumar, MD, and Manappuram Finance’s Chief Executive Officer, told Neha Bothra in an interview. This is part of the borrower’s long-term plan, but in the current financial year a non-gold business is likely to ‘stay at the same level or show a slower growth’ of about 4 percent. While disbursements and collections have reached pre-Covid levels, Nandakumar expects a ‘final 5 percent loss’ on loan repayments. The gold lending business is expected to grow by 20 percent of this amount, but rising gold prices are worrying. In this interview, Nandakumar describes the company’s long-term business strategy, and discusses the performance and growth of its gold vision, affordable housing and small financial positions.

In an Interview with VP Nandakumar, MD and Manappuram Finance Chief Executive Officer, Damage caused by receivable COVID-19. Do you think that pain is the cause of business now?

This seems to be the case because our presence is mainly in rural and urban areas, and jobs have reached normalcy. Transportation from cities has been rebuilt, and shops, smaller production units, the automotive industry are now in operation, and other construction activities are also under way. However, we see some flexibility in government (finance) and the road construction sector. Overall, there is a positive attitude, and the business has almost returned to normal by 90 percent.

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